Spin Memory raises $52M to deliver memory for the digital age

by Justine Hofherr
November 12, 2018
spin memory
photo via shutterstock

Between the world of IoT, self-driving cars and mobile apps, it’s easy to see that the technological world is changing at breakneck speed.

In order to keep up with this digital transformation, however, the world needs a new way to store information. Enter, Spin Memory.

The Boston-based company, which raised a whopping $52 million round today, aims to revolutionize the semiconductor industry by solving memory challenges vital for artificial intelligence, 5G, deep learning, IoT and more.

Spin Memory is driving a unique industry approach to bringing breakthrough memory technology IPs into the mainstream.”

With memory chip standards like static random access memory (SRAM) and dynamic random access memory (DRAM) hitting their size and power limits, Spin Memory has been collaborating with tech leaders to offer denser, lower-power magnetoresistive random access memory (MRAM) solutions that they say match DRAM performance levels.

If you’re like, “huh?” you’re not alone. But bear with me.

MRAM is a method of storing data bits that uses magnetic states instead of electrical charges. Proponents of the technology say MRAM could be used to improve electronic products by storing greater amounts of data that can be accessed faster — all while consuming less battery power than current electronic memory. It’s pretty exciting stuff.

Along with the funding, Spin Memory announced a commercial agreement with materials engineering solutions provider Applied to create a comprehensive embedded MRAM solution.

“Spin Memory is driving a unique industry approach to bringing breakthrough memory technology IPs into the mainstream,” said John Kispert, chairman of the board of directors at Spin Memory, in a statement. “We are proud to be engaging with industry leaders in our mission to enable new and exciting embedded memory applications.”

The funding round, which brings Spin’s total funding up to $158 million, was led by Applied Ventures LLC — the venture capital arm of Applied Materials, Inc., and Arm.

Boston startup guides

LOCAL GUIDE
Best Companies to Work for in Boston
LOCAL GUIDE
Best Software Engineer Jobs in Boston
LOCAL GUIDE
Coolest Tech Offices in Boston
LOCAL GUIDE
Best Sales Jobs in Boston
LOCAL GUIDE
Best Perks at Boston Tech Companies
LOCAL GUIDE
Best Marketing Jobs in Boston
LOCAL GUIDE
Best Data Scientist & Data Analyst Jobs in Boston
LOCAL GUIDE
Best Design Jobs in Boston